The future of Valley Parade

They have no money, its the public's, just like all governments.
They just spend it badly and have poor people in charge.

 

A small town in the mountains of Wales.

 

One of the many reasons businesses are leaving Bradford in their droves
Happy to collect business rates but put very little back in
All the empty shells of buildings are testimony to that
If they supported the local businesses it would go a long way in restoring confidence bringing cash/reinvestment back into the city
Is Bradford Live even reopening I heard there was a doubt
COC 2025 will flop and drive even more businesses to the brink
I admire your ethics but fear they are misplaced

 

Hi Dennis. Please correct me if I am wrong, but didn't you once say that with this type of scheme where the trustees are also the beneficiaries, that they aren't bound by the regulations governing typical group schemes and can pretty much do as they please? The reason I ask is that the WOAP article quotes Gibb as saying he wasn't prepared to go to jail for not acting in the best interests of the beneficiaries. Maybe I misunderstood.

 

They aren't.

This is a fundamental point which is one of the reasons that the 'pension fund'' was able to buy the ground in the first place. I believe that the WOAP is incorrect in this assertion, although it depends exactly what has been specified in the creation of the scheme. It seems unlikely, if not impossible, as a trustee and beneficiary for Gordon Gibb to have legal recourse against himself.

For the record, I'm a bit rusty with pensions now. However, I used to work in financial services and I held the G60 pensions qualification which allowed me to advise on pensions. That's why I keep picking up on comments about the legal duty to the beneficiaries, because it is not a company defined contribution or defined benefit pension scheme.

There is flexibility there for Mr Gibb, if he so wishes.

 

That’s it Dennis thanks for clarifying . I knew it was part of a “rescue” package , just the wrong bit!

 

Used to frequent Wibsey a lot back in the day.

 

Ha ha. It messes with my ocd as well !

 

Likewise Dave, I'm one of the biggest advocates for my city. Can't abide anyone who lives here and tells folk they live in Leeds and constantly get into spats on face book on Bradford related sites with Bradfordians and ex Bradfordians who slag it off.

My stock response is usually bog off to the perfect utopia that is Leeds if you hate Bradford so much.

Bradford Born, Heaton bred, and proud of it.

 

More like a different planet

 

Been called a few things in my time, especially by her indoors, but never a one of.
Is it a good thing ?

 

A couple of months ago I was told by a GIbb family member there is absolutely no chance of selling the ground.

May have a different view in 2028 mind, but we need an exit plan to force their hand perhaps.

 

Not saying the Beck is or isn't 50 feet below but the pitches flood and are waterlogged on a regular basis. Games are called off all the time down there.

 

no, it still has the road it. Couldn't work out why we couldn't get the road moved back a bit up to where the old club shop/gym is

 

Not sure how long Piece Hall will last though as at some point the council will stop subsidising it rather than cutting other services.